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<br /> <br />The council has a 26-year history of supporting tax exemptions to encourage new housing in the core <br />area. <br /> <br />Financial and/or Resource Considerations <br />The City and other local taxing districts forgo revenue when property is exempted from taxes. This <br />project proposes new construction on a property that has been vacant for many years. When the <br />exemption was approved, the council determined that the developer met the test that the project would <br />not be built “but for” the tax exemption. The land will continue to be taxed, so there is no loss of <br />revenue. The improvements will bring substantial revenue after ten years. <br /> <br />Timing <br />The extension is important if this project is to proceed. <br /> <br /> <br />RELATED CITY POLICIES <br /> <br />MUPTE is enabled by state statute. The City of Eugene has participated in the MUPTE program since <br />1978. Since that time, eleven requests have been approved. Encouraging housing in the core area is <br />consistent with numerous adopted planning documents. Examples include: <br /> <br />The Downtown Plan <br />Policy V.1: Stimulate multi-unit housing in the downtown core and on the edges of downtown for a <br />variety of income levels and ownership housing. (The Patterson House is inside the Downtown Plan <br />boundary). <br /> <br />Implementation Strategy A: Expand the MUPTE program boundary to encourage housing on the edges <br />of downtown. Periodically review boundaries and expand to include areas where additional housing is <br />appropriate. <br /> <br />Growth Management Policies <br />Policy 1 Support the existing Eugene Urban Growth Boundary by taking actions to increase <br />density and use on existing vacant land and under-used land within the boundary more <br />efficiently. <br />Policy 2 Encourage in-fill, mixed-use, redevelopment, and higher density development. <br />Policy 3 Encourage a mix of business and residential uses downtown using incentives and zoning. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />The council may approve or deny the extension. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends approving the resolution to grant the extension. <br /> <br /> L:\CMO\2006 Council Agendas\M060227\S0602272D.doc <br /> <br />